Spire Wealth Management Has $181,000 Stock Position in NuScale Power Corporation $SMR

Spire Wealth Management raised its holdings in NuScale Power Corporation (NYSE:SMR) by 6,164.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,573 shares of the company’s stock after buying an additional 4,500 shares during the quarter. Spire Wealth Management’s holdings in NuScale Power were worth $181,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of NuScale Power by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock worth $126,598,000 after purchasing an additional 512,618 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of NuScale Power by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after purchasing an additional 1,153,158 shares in the last quarter. Swedbank AB grew its holdings in shares of NuScale Power by 6.7% during the 1st quarter. Swedbank AB now owns 2,402,125 shares of the company’s stock worth $34,014,000 after purchasing an additional 149,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of NuScale Power during the 1st quarter worth approximately $14,271,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Stock Performance

Shares of SMR opened at $35.71 on Wednesday. The stock has a fifty day moving average price of $39.35 and a two-hundred day moving average price of $35.83. NuScale Power Corporation has a 52-week low of $11.08 and a 52-week high of $57.42. The company has a market cap of $10.17 billion, a price-to-earnings ratio of -30.01 and a beta of 2.03.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The business had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. As a group, research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction on Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. The trade was a 19.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 15,030,641 shares of company stock valued at $605,953,415. Insiders own 1.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SMR shares. Barclays started coverage on NuScale Power in a report on Monday, September 29th. They set an “equal weight” rating and a $45.00 price objective on the stock. UBS Group lifted their price objective on NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Citigroup restated a “sell” rating and set a $37.50 target price (down previously from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. Bank of America restated an “underperform” rating and set a $34.00 target price (down previously from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. Finally, Canaccord Genuity Group raised their target price on NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, NuScale Power presently has an average rating of “Reduce” and a consensus price target of $37.73.

NuScale Power Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.